XLM Displays High Volatility Amid Institutional Selling Pressure

Stellar’s XLM token decreased by 3% as institutional selling exerted significant pressure on the order books. Over the past 24 hours, the token fell from $0.39 to $0.38, with trading volumes reaching 101.32 million, nearly three times the average.

Key Points:

• Trading Movement: XLM’s price slipped from $0.39 to $0.38, primarily affected by liquidation.
• Price Resistance: A strong resistance level was established at $0.395, while buying interest spiked around $0.375 during sell-offs.
• Volatile Sessions: A short-lived recovery occurred where XLM rose from $0.378 to $0.383, indicating moments of resilience.

Technical Analysis:

• Volume peaked at 101.32 million during trading hours.
• The key support and resistance levels are critical for framing upcoming market direction,
• An emerging consolidation pattern around the $0.380–$0.381 range serves as a potential support base.

Conclusion:

Market behavior shows patterns of institutional profit-taking, with significant resistance at $0.395, making the price range of $0.375–$0.395 crucial for traders to watch.

“XLM price plunges 3% amid triple-average volume selling pressures, forming new support near $0.375 after volatile trading session.”